Media and the Financial Disarray

The New York Times adds a valuable piece to this:

http://freakonomics.blogs.nytimes.com/2008/09/18/diamond-and-kashyap-on-the-recent-financial-upheavals/

At the bus stop one of the riders asked why she hadn’t heard any thing in the media about what happens after this meltdown. Made me think about what the newspapers, tv and radio have covered. There’s so many stories I’ve created groups to cluster the coverage:

media focus started with the home foreclosures, the bad loans and the derivative security deals; subset stories were Countrywide, Bear Stearns not getting money to cover their bad assets, people losing homes, even people damaging the hell out of their homes before the banks took them over; dropping housing prices

then we heard about the dropping stock market; subsets of this story are the great drops in the values in Countrywide and Merrill Lynch stock;

there are all the federal bailout stories with Fanne Mae and Freddie Mac, tied to this is lack of federal regulation and oversight, and my fav: http://www.cnn.com/2008/POLITICS/09/17/aig.bailout.congress/index.html

there’s the stories about the millions being made from corporate salaries and benefits packages 

there’s the stories about how to fix the stock market

there’s the stories about no new job creation during these last few years of a good economy:

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/17/AR2008091702971.html

How is one to get a focus and a grip?

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